Sublime

Mini-Berkshires: My business partner was amazed to learn it was possible to invest in mini-berkshire type companies (micro-PE). He asked for a list. I whipped this up real quick and posted an article on my website. What did I get wrong? https://t.co/SfSb3RTaCm

Drop everything and read this article - @jasonzweigwsj describes how Hamilton Lane, in their new secondaries fund, buys assets at a discount, marks up the NAV *immediately* and earns their carry on *unrealized* (!!) gains. Let me translate via example: 1. you... See more

In 2000 a relatively unknown proprietary trading firm was founded - Jane Street Capital Last year was the fourth straight year Jane Street generated net trading revenues of more than $10 Billion, comfortably beating Goldman Sachs and many others 🧵 Here's how they did it... See more

Here are the additional financial assumptions we make when considering the investment property: Acquisition costs are 6% of the purchase price Capital growth forecast is 7% per annum Expected rental yield is 3.5% per annum Property management fees are 7.7% per annum Occupancy rate is 92% (we have allowed 4 weeks vacancy each year) No depreciation

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